Answer:
Your bank could impose a hold of that duration on non-next-day items deposited in a new account, if disclosed in account disclosures.
Otherwise, a hold until the 7th business day is the normal maximum for even exception holds.
If the bank can demonstrate the added risk, it could place a longer than 7th business day exception hold (under the last sentence in Section 229.13).
First published on BankersOnline.com 2/21/11